Now that you have a job, you have decided to quit renting and buy a house. Suppose that you wish to

take out a mortgage to purchase a house worth $$250,000\mathrm{.}00.$ Your bank agrees to lend you the money in the

form of a $30-$year mortgage with an $8\mathrm{.}00\%$ annual interest rate. Given this information determine what your

monthly mortgage payment will be$.$